Deb Shops Q4 net declines as sales dip

MarkCotton

NEW YORK (CBS.MW) -- Deb Shops
debs
posted a drop in fiscal fourth quarter net income to $8.6 million, or 63 cents a share compared with $11.7 million, or 85 cents a share. Sales fell 2.6 percent to $80.7 million from $82.8 million. CEO Marvin Rounick attributed the decline to "merchandising and mall traffic challenges," which persisted throughout 2004. Looking ahead, the Philadelphia-based teen clothing retailer said it is forecasting fiscal 2005 earnings between $1.20 and $1.30 a share on sales in the range of $310 to $320 million. The company said the forecast is based on projected "low to mid-single digit" percentage same-store sales growth and by net new store growth of between five and ten stores. Shares of Deb Shops were down 22 cents at $25.48 at the close of trading Monday.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.